Q:

What are some examples of rational self-interest?

A:

Quick Answer

Rational self-interest is when it makes sense for a person to focus on themselves and it can be seen most prominently in the market economy as self-interest is crucial in order to motivate economic activity. A person who practices rational self-interest in the marketplace will put their needs first and focus on personal gain, which will stimulate the economy as people choose to work and build new businesses in order to benefit themselves.

Know More

Full Answer

Another example of rational self-interest would be a young person going to school even though he or she does not wish to go to school. The young person may choose to go to school because he or she wishes to attend college or wishes to obtain a job with the GED (General Educational Development) credential he or she will earn from school.

Learn more about Homework Answers

Related Questions

  • Q:

    What are some examples of a rhetorical fragment?

    A:

    The last two sentences in the passage, "All I saw was darkness. Oppressive darkness. Darkness that swallowed everything," are examples of rhetorical fragments. Rhetorical fragments are sentence fragments used to emphasize a point.

    Full Answer >
    Filed Under:
  • Q:

    What are examples of rational decision making models?

    A:

    Rational decision-making models are designs and plans of action that presumably benefit any person following them. These models involve a person following through with steps regarding decision-making until they reach a desirable result. Rational decision-making models vary in the number of steps they have. While some of these models have six steps others rely on more than a dozen.

    Full Answer >
    Filed Under:
  • Q:

    How do I define "economic self-interest"?

    A:

    Economic self-interest refers to the financial theory that says people should make economic decisions based upon the best outcome for themselves. Self-interest is defined as a way of promoting activities and beliefs that serve to benefit the person making the decision over any other parties involved. Many criticize economic self-interest because it has the potential to harm the interests of others and ultimately negatively affect their situation.

    Full Answer >
    Filed Under:
  • Q:

    How does interest work?

    A:

    Interest is the fee that a person pays for taking out a loan, according to DebtHelp.com. The interest is determined by the interest rate as a percentage of the debt. Although interest rates can vary, the interest amount is added to the total loan.

    Full Answer >
    Filed Under:

Explore